SEC reveals ‘two-pronged’ approach to policing notes

Big data and industry experts help unit bring enforcement actions

photo of reid muoio of the US SEC
Reid Muoio, US Securities and Exchange Commission

The US Securities and Exchange Commission's (SEC) complex financial instruments unit is adopting a "two-pronged approach" to policing the $50 billion registered structured notes market, said a senior SEC official at the Structured Products America conference on May 8. The 40-person unit is relying on ‘big data' and the hiring of industry experts to help ferret out market abuses as other SEC offices also step up enforcement efforts. Reid Muoio, the unit's deputy chief, laid out the commi